Defiance Silver Provides Update on San Acacio Agreement

Rhea-AI Summary

Defiance Silver Corp (TSXV: DEF) has announced an extension to its San Acacio Silver Project option agreement in the Zacatecas district. The scheduled payment originally due December 31, 2024, has been rescheduled to March 31, 2025. The amendment was signed by both parties and awaits notarization in Mexico City, with no changes to the economic terms of the option agreement.

The company operates the district-scale Zacatecas Project in the historic Zacatecas Silver District and the Tepal Gold/Copper Project in Michoacán state, Mexico. Defiance focuses on capital-efficient exploration aimed at resource growth and new mineral discoveries.

Positive

• None.

Negative

• Payment deadline extension could indicate potential cash flow constraints
• Delay in completing the San Acacio property acquisition

Vancouver, British Columbia--(Newsfile Corp. - December 20, 2024) - Defiance Silver Corp. (TSXV: DEF) (FSE: D4E) (WKN: A1JQW5) ("Defiance" or the "Company") announces the extension of the San Acacio Silver Project option agreement

Defiance through its wholly owned subsidiary, Minera Santa Remy S.A., has, at the Vendor's request, agreed to extend the term of its option to acquire 100% of the San Acacio property in the Zacatecas district. As a result of this amendment, the scheduled payment due December 31, 2024, has now been changed to March 31, 2025 (See January 10^th and October 21^st, 2024 news for more details). The amendment was signed by both parties and is pending ratification in the presence of a notary public in Mexico City. There were no changes to the economic terms of the option agreement.

About Defiance Silver Corp.

Defiance Silver Corp. (TSXV: DEF) (OTCQX: DNCVF) (FSE: D4E) is an exploration company advancing the district-scale Zacatecas Project, located in the historic Zacatecas Silver District and the Tepal Gold/Copper Project in Michoacán state, Mexico. Defiance is managed by a team of proven mine developers with a track record of exploring, advancing, and developing several operating mines and advanced resource projects. Defiance's corporate mandate is to advance our projects through capital-efficient exploration focused on resource growth and new mineral discoveries.

On behalf of Defiance Silver Corp.

"Chris Wright"
CEO & Chairman of the Board

For more information, please contact: Investor Relations at +1 (604) 343-4677 or via email at info@defiancesilver.com
www.defiancesilver.com
Suite 2900-550 Burrard Street
Vancouver, BC V6C 0A3
Canada
Tel: +1 (604) 343-4677
Email: info@defiancesilver.com

Disclaimer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/234631

FAQ

What is the new payment deadline for Defiance Silver's (DNCVF) San Acacio option agreement?

The payment deadline has been extended from December 31, 2024, to March 31, 2025.

Were there any changes to the economic terms of DNCVF's San Acacio option agreement?

No, there were no changes to the economic terms of the option agreement.

What projects does Defiance Silver (DNCVF) currently operate in Mexico?

Defiance Silver operates the Zacatecas Project in the Zacatecas Silver District and the Tepal Gold/Copper Project in Michoacán state, Mexico.

What is the current status of DNCVF's San Acacio amendment agreement?

The amendment has been signed by both parties and is pending ratification in the presence of a notary public in Mexico City.